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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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Dec 5, 2012
12/12
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both sides seem to be digging in their heels with no move to avoid the fiscal cliff. fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes not by raising rates own the wealthy as the president has demanded. >> we're not insisting on rates out of spite but rather because we need to raise a certain amount of revenue. >> we can't keep borrowing mown and raising taxes and expect the problem to go away. >> with no solution in sight the white house budget is now ordering the pentagon and other an an jencies to finalize their plan to avoid massive spending cuts. >> secretary of state clinton says nato's decision missiles to turkey sends a clear message that tour ski is backed by its allies. the big concern remains an increasely desperate assad regime will turn to chemical weapons as rebel fighting rages on. the u.s. and its partners are looking to apply additional pressure on at a conference next week. the regime insists they would not use weapons against its people. >> a natural gas tanker arrive
both sides seem to be digging in their heels with no move to avoid the fiscal cliff. fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes not by raising rates own the wealthy as the president has demanded. >> we're not insisting on rates out of spite but rather because we need to raise a certain amount of revenue. >> we can't keep borrowing mown and raising taxes and expect the problem to go away....
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Nov 30, 2012
11/12
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the reason for that is really clear: a lot of it has to do with the fiscal cliff. > the fiscal cliff. you asked some questions about that. what were the findings there? > > we really asked about how much is the fiscal cliff impacting you in terms of whether you are going to hire or not. what we found is that 60% of folks said they are going to hold off on bonuses for wait and see what happens with the fiscal cliff before they make some decisions around that. we saw almost 40% of small businesses saying, "if we even thought about hiring, we are going to wait until we get some kind of resolution around the fiscal cliff. and most concerning to me, 60%+ of small businesses don't believe the government can figure out how to solve this fiscal cliff. > c'mon congress and president. all right, michael alter. i'm going to see you in a month. let's see if some things are improving. i appreciate it. > > i can only hope. thanks for having me. just ahead, are banking stocks ready to short circuit? a couple of traders charge in with their views after the break. >-.y÷$@y+o3vhpe the time has come fo
the reason for that is really clear: a lot of it has to do with the fiscal cliff. > the fiscal cliff. you asked some questions about that. what were the findings there? > > we really asked about how much is the fiscal cliff impacting you in terms of whether you are going to hire or not. what we found is that 60% of folks said they are going to hold off on bonuses for wait and see what happens with the fiscal cliff before they make some decisions around that. we saw almost 40% of small...
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Nov 30, 2012
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but again only on news of setbacks to the fiscal cliff talks. we're not going to go in and buy anything these days. you'll get some representative congressman, senator come on say you stupid idiot. you bought stock and i'm talking on a microphone. i'm sending the stock market down because there's no progress. we have not one but two huge analyst days next week. only one an opportunity to buy. starbucks is coming to town on wednesday. you better get ready for one terrific show as the one and only howard schultz i believe will tell you that business is smoking in so many places in china to the united states and that tebana will be the next generation starbucks as soon as the merger is completed. the next day yum brands. it's coming to town. that company will have some explaining to do. i will have more on what yums needs to tell us. the sting of the earnings shortfall last night will still be with us no matter how good kentucky fried chicken might taste. also we hear from lulu lem athletics. i got a situation for how to trade this wild stock. wait
but again only on news of setbacks to the fiscal cliff talks. we're not going to go in and buy anything these days. you'll get some representative congressman, senator come on say you stupid idiot. you bought stock and i'm talking on a microphone. i'm sending the stock market down because there's no progress. we have not one but two huge analyst days next week. only one an opportunity to buy. starbucks is coming to town on wednesday. you better get ready for one terrific show as the one and...
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Dec 7, 2012
12/12
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a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a washington-inspired financial disaster, they know nothing. shawn in illinois. shawn? >> caller: hello, jim. >> what's up, chief? >> caller: booyah from chicago land. >> done. speak to me. >> caller: i've been watching blizzard for some time now, and i just heard a report that thei
a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that...
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Dec 1, 2012
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i think we will avoid the fiscal cliff. if that's the case, it's a $66 stock and you could go higher. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >> believe it or not, i actually used to be a mountain climber. what do you think? always had the best gear, climb up from whatever crevice or abyss faced me. this is the day when my equipment felt a little superfluous. buckle my helmet, will you? wow, am i ever ready for this baby. >> hi, jim. john jay, i don't know if anyone ever told you, but you resemble billy joel, not lennon like you showed that portrait. >> if i look like billy joel i'm done eating. done eden. that's a play on where you're from. i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make money. i'm just trying to -- without regina i'm lost. without regina i'm lost! we got some great news to report tonight. our fabulous executive producer regina had a baby girl today. we want to welcome to the world rg2. why
i think we will avoid the fiscal cliff. if that's the case, it's a $66 stock and you could go higher. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >> believe it or not, i actually used to be a mountain climber. what do you think? always had the best gear, climb up from whatever crevice or abyss faced me. this is the day when my equipment felt a little superfluous. buckle my helmet, will you? wow, am i ever...
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fiscal cliff even with the fiscal cliff. dave: you and i agree with it will take to get the economy growing stronger because we are like-minded with that. you don't like the economic policies the president is proposing. dozen there come a time when those economic policies to stifle the economy and strip it up? >> absolutely. when we look back in history 1970s had big growth in government and when you have big spending like we do today you get weaker growth. france for 40 years has grown numb to% real gdp and 8% unemployment. they think it is normal. the good news is america doesn't think it is normal and you have to keep pounding the table that this isn't normal. it is not good. so do i. the only way to get back up to good growth is to cut the size of the government. i still believe we have eight to ten years even on the crazy course we are on right now before we are anything like one of these european countries. this is still an amazingly powerful entrepreneurial place. i am betting on the entrepreneur and even though the g
fiscal cliff even with the fiscal cliff. dave: you and i agree with it will take to get the economy growing stronger because we are like-minded with that. you don't like the economic policies the president is proposing. dozen there come a time when those economic policies to stifle the economy and strip it up? >> absolutely. when we look back in history 1970s had big growth in government and when you have big spending like we do today you get weaker growth. france for 40 years has grown...
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Dec 7, 2012
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and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed political seats. >> tom: you could argue in the three years you've been away from the nbr anchor desk congress hasn't done a lot to address the fiscal situation. >> no it's just ridiculous. i mean these are our elected representatives and they have got to pay a little more attention to those that got them in the office. and they're arguing amongst themselves without much care about the people they represent. >> tom: a lot of those folks are retiree, we have a question from anita asking what is the investing or financial planning lesson paul use most during retirement? >>
and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed...
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and house speaker john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt coupled with spending cuts but the republican controlled house says the president has not responded to their latest proposal. >> i think we made a good-faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and it included additional revenue and frankly it was the balanced approach mr. president has been asking for. erick kanter announced today there will be no adjournment into a credible solution to the fiscal cliff is found. >> house lawmakers proposed a bill today they claim will bring the costs under control and provide a safe retirement, it creates two
and house speaker john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt...
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if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours
if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back into bear market territory weighing on the nasdaq throughout the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thought it would go lower. we didn't do that to hurt people, we did it be
geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a...
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. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive. it is the math. >> magic math. >> magic beans and fairy dust. >> president obama did win the election. >> me thinks somebody made him king. >> no. i don't think that's right. >> he doesn't see where he stands in the universe. >> i would say we're nowhere. >> are we that far apart? >> both sides want a deal. >> a matter of math. >> try to stay away from hypotheticals. >> it won't pass. >> discussions abo u >> unicorns. >> they're imaginary beasts. >> magic beans. >> magic math. >> an enchanted universe. >> outrageous. >> the whole thing is going wacky. >> i would say we're nowhere. >> i don't envy the position the speaker is in. >> we're nowhere. you just mig
. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive....
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it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock. call 1-800-ishes for a prosctus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforter
it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their...
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fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game. because we have to break that habit before it starts. >> bret: what about that? >> well, the president had as many red lines for iran as for house republicans. i think what kirsten said is absolutely remarkable. it is about the scalp. it's about the president having made a campaign argument for the better part of 2012. so that he could run a class warfare campaign. now having to make good on that with the base of his party. the u.s. economy be damned. the republicans offered to give so much and offering precisely what erskine bowles laid out as a compromise position in
fiscal cliff, beyond the fiscal cliff. let me get to this steve. this is about including the debt ceiling. and what the president said about that in this negotiation today. >> we are not going to play that game next year. >> if congress in any way suggests they will tie negotiation to debt ceiling votes and take us to the brink of default once again, part of a budget negotiation, which by the way we have never done in our history until we did it last year. i will not play that game....
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Nov 29, 2012
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if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every thursday as the claims spike because of mandated layoffs particularly in a military industrial complex. people will lose that right in 2013. and thousands of other companies are slimming down because, hey, we failed to rise above. when that happens, believe me, you'll want every bit of this mountain gear. you'll want the ice ax. man, we got to use this. this will no longer just be a key chain because if we're cl m climbing out of the cliff you need to be the first there and with the best stocks. i envision all segments of the market getting pummeled but the ones that come back first are the ones that sold down first. so the best could be the worst. to me that means i want to climb out of the cliff using a stock like home depot. i'm going to climb out there to get this, yeah, home depot. that's one i'm going to get! because -- sorry about that. because it's up 54% for the year. the most v
if you're a ceo, you saw the recession going over the fiscal cliff caused you don't want to be hiring. you might have to be firing in january. if we miss the deadline the market will get pounded every thursday as the claims spike because of mandated layoffs particularly in a military industrial complex. people will lose that right in 2013. and thousands of other companies are slimming down because, hey, we failed to rise above. when that happens, believe me, you'll want every bit of this...
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Dec 6, 2012
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we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it needs efforts. let's make them short for a better future. i think we should be ready as a corporation, being ready for maybe a year of difficult market, difficult situation in the market because that is a ceiling on our growth in terms of economical growth as to be released. it's really me an investment for the future. >> you're seeing a similar situation in france where we're talking about the possibility of capital gains taxes and dividend taxes going much higher. what will that do to the investor class, to the entrepreneurialism that we're seeing
we've got this negotiation for the fiscal cliff. if we go over the fiscal cliff, what is the impact to your business? >> well, there would be an impact on consumption, for sure. so when it comes to puma or mainstream brands in america in sports, there will be a for sure some consequences in terms of consumption. but i see that as an investment for the future. so it might be a little bit different from some of other ceos. we have to get over the fiscal cliff. let's not delay the thing. it...
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Nov 30, 2012
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let's start with the fiscal cliff. secretary reich if we hit the fiscal cliff would it be devastating and hence we must do cuts in social security and medicare? >> first of all the fiscal cliff is a misnomer. it really is not a cliff. we can go over it and a lot of people won't feel much, particularly if democrats do what they say they're going to do, and that is pass a bill that makes the tax cuts retroactive to january 1 for the middle class. that's what democrats would do, giving them maximum bargaining with the republicans. we don't have a debt crisis. that's another might geology that a lot of people, republicans and media are talking about. there is no the a budget deficit crisis right now. in the years beginning 10 years from now, we will have very large budget deficits, but those are because of health care costs rising projected to rise very, very high and that's going to hurt medicare and medicaid, not because medicare and medicaid are the problems, but because underlying those medicare and medicaid problems p
let's start with the fiscal cliff. secretary reich if we hit the fiscal cliff would it be devastating and hence we must do cuts in social security and medicare? >> first of all the fiscal cliff is a misnomer. it really is not a cliff. we can go over it and a lot of people won't feel much, particularly if democrats do what they say they're going to do, and that is pass a bill that makes the tax cuts retroactive to january 1 for the middle class. that's what democrats would do, giving them...
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Nov 29, 2012
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fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is
fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest...
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. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many law
. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over...
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the fiscal cliff issue. i want to show you a bit this morning of president obama in an interview with the bloomberg tv on tuesday talking about where he is in the debate. [video clip] >> i did not expect republicans to agree to any plan where they are betting that the entitlement reform will happen. we will have to have specific downpayments now recognizing we will have to continue to work to see if we can come up with better ideas to reduce health- care costs over the long term. that is the framework we are operating on. within that framework, i am happy to be flexible. i recognize i will not get 100%. i will not agree to a plan a in which we have some revenue that is vague and potentially comes out of the pockets of middle- class families in exchange for some very specific entitlement cuts that would affect seniors or other folks who are vulnerable. host: president obama with the bloomberg tv. next up, sarah on the republican line. caller: i think president obama is blackmailing the congress. he thinks sin
the fiscal cliff issue. i want to show you a bit this morning of president obama in an interview with the bloomberg tv on tuesday talking about where he is in the debate. [video clip] >> i did not expect republicans to agree to any plan where they are betting that the entitlement reform will happen. we will have to have specific downpayments now recognizing we will have to continue to work to see if we can come up with better ideas to reduce health- care costs over the long term. that is...
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now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i spoke with senator demint out and he feels that we have to do a better job with that. i believe that he thinks he can take the heritage network, and they do have operations around the country, at the state level, find out what works at the state and local level. there are models, social policy, education, welfare that have had some success out in the country that reflects conservative ideas. match that with the researchers in washington that to the policy work for heritage. connell: i think a lot of people will hear or read about this today and think about the conversation we have been having about the future of the republican party. does the tea party still have, you know, lindsey graham just put
now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i spoke with senator demint out and he feels that we have to do a better job with that. i believe that he thinks he can...
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fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be running for the hills or at least buying portfolio protection to protect themselves against potential disaster. we see the vix very low. they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahea
fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be...
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stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian nation. yum operates roughly 5,000 restaurants in china, accounting for half of its total sales. >> susie: joining us now with more on the chinese consumer and the economy, nicholas consonery, asia analyst at the eurasia group. nick we've heard this story before from nike, mcdonald's, tiffany's recently. how serious is this consumer slow-down in china? >>
stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales...
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especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this your chance to fill up your cup before the shares really get percolating? cramer is grinding through the facts next. >>> tomorrow we are going to hear from one of my favorite companies and it is starbucks. having its biennial analyst day. right now it is more than ten points off its high for the year. i think it could mark the beginning of the stock's next big rally. you can follow along at actionalertsplus.com. a service that i do with the street. tomorrow i expect a terrific story. i'll give you a preview. lots of people ask me ho
especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this...
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it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that. hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up act 2.0 in the coming months. >> gentlemen, look good. steve and scott, come back and let us know how it went in cowboy stadium. >>> google plans to start charging small businesses for its free services like e-mail and google docs. will consumers like you be next? >>> and from 50 stradz of grshaf gray to 5,000 shades of green. employees at random house getting a big stocking stuffer this season. we'll explain. ears, ameriprise finan
it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that....
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and that the rhetoric around the fiscal cliff or what i like to call the fiscal bluff is really just a way to thinly shroud these drastic budget cuts that will result in 60,000 people with aids around the world dying. these are preventable deaths that we could otherwise avoid if these budget cuts don't go through. >> let's talk about those cuts because the aids, their speculation is that more than $500 million will be cut from hiv/aids programs in the first year if it goes into effect. do you see the need for entitlement reform at any measure and, if you do, what cuts would your group be okay with? >> so, here's the thing. if we could just pass a tiny tax on the speculative stock transactions, a robinhood tax, we could actually generate up to $350 billion, and i said billion dollars a year. every single year. that would be more than enough money to end the aids pandemic and to have money left over for the largest jobs program that we ever dreamed of and enough money to fight against climate change so us up here in new york won't have to face things like hurricane sandy, again. a robi
and that the rhetoric around the fiscal cliff or what i like to call the fiscal bluff is really just a way to thinly shroud these drastic budget cuts that will result in 60,000 people with aids around the world dying. these are preventable deaths that we could otherwise avoid if these budget cuts don't go through. >> let's talk about those cuts because the aids, their speculation is that more than $500 million will be cut from hiv/aids programs in the first year if it goes into effect. do...
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could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth quarter because of these job cuts even though it expects them to generate $900 million in cost savings next year. interestingly this is the first move toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts
could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to get to kayla tausche with more on that. >> we have a release that just hit the wire in citigroup where those jobs are coming from and a charge that the company plans to take in the fourth...
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it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly what we need is a long-term plan for deficit reduction that begins to take effect when the economy is closer to its capacity. right now it's at least 6% below its capacity. the unemployment rate, 7.7, it should be like 5.7 at capacity. we should no
it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to...
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the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is goi
the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown...
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>> the major impact is looking at the fiscal cliff. any compromise close to that is going to give the market some upward swing. the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we appreciate it. of course we'll be looking at this market and whether or not it loses the steam come the big rally today. ticktock, ticktock on the fiscal cliff. my thoughts on the story from timothy geithner. guess what, folks. i think we're going over the cliff. back in a moment. are system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where
>> the major impact is looking at the fiscal cliff. any compromise close to that is going to give the market some upward swing. the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane...
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this is obama's fiscal cliff. if the republicans cave, we'll have a fiscal cliff in about three or four years that's going to be the grand canyon. we're going to go collapsing. it's going to be awful. >> sean: i agree with you. >> we got to fight like william wallace in "brave heart." fight for america. we can win it in the next 30 days. >> sean: i'm with you. leslie, seriously, why can't we have some significant spending cuts now? the president, first of all, said he only wanted $800 billion when he was running, now he's doubled it, but there's no cuts. government can't find waste, fraud, abuse, cut back on their intoxication and power grab with spending? >> i agree that medicare is one program that has a lot of fraud. quite frankly the president has been very clear that they're going to be -- >> sean: when? when? >> democrats and republicans will have to suck it up. when you guys call caving in, i call compromise. >> sean: republicans compromise, cave, and -- >> we're not violating the tax pledge if we let somet
this is obama's fiscal cliff. if the republicans cave, we'll have a fiscal cliff in about three or four years that's going to be the grand canyon. we're going to go collapsing. it's going to be awful. >> sean: i agree with you. >> we got to fight like william wallace in "brave heart." fight for america. we can win it in the next 30 days. >> sean: i'm with you. leslie, seriously, why can't we have some significant spending cuts now? the president, first of all, said...
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what should we do with private bancorp before the fiscal cliff? i think the positives are clearly baked into the stock right here. this bank could do really well in an environment of rising interest rates, but the fed has made it very clear that rates will stay low until at least 2015. so you know what? let's take a pass on that one. let's do some tweets. thank you, viewers, for making it so that i have more than 600,000 followers. thank you very much. happened just the other day. let's take our first tweet from @nfalex who says what's your take on -- it's the old part of kraft. the stock price has been trading down sinced the old spinoff. it drives me crazy when stephanie link and i buy for the charitable trust. the charitable trust follows stocks. you can follow along with actionalertsplus.com. and they don't immediately pop. this is the p.m. of philip morris when altria split. it's the fast-growing snacks business overseas, it's going to be great. now here's the problem. it acts terribly. so wa you can say is therefore it's bad or you can do th
what should we do with private bancorp before the fiscal cliff? i think the positives are clearly baked into the stock right here. this bank could do really well in an environment of rising interest rates, but the fed has made it very clear that rates will stay low until at least 2015. so you know what? let's take a pass on that one. let's do some tweets. thank you, viewers, for making it so that i have more than 600,000 followers. thank you very much. happened just the other day. let's take...
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wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the dollar bill be going the way of the doo-doo. a congressional panel is once again calling for the u.s. to stop printing singles and switch entirely to dollar coins. the nonpartisan panel believes it could save taxpayers money. it's more expensive to produce coins but they last about six times longer than paper bills. and you'll need some extra coins to buy starbucks latest. the coffee king is selling a new brew that will set you back $7 for a grande cup. it's made from a rare been grown in costa rica. if you want to brew a cup at home, a bag of th
wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the...
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so you say this fiscal cliff, its fiscal nuclear bomb. what are some of the elements that concern you most? >> let's starts with this was something created by congress and signed into law by president obama. so this is not a tsunami that just came by accident, mother nature. this was created by our elected public officials. should it go off, it will be nothing short of a nuclear weapon, a fiscal nuclear weapon. we have not only the increasing of capital gains taxes and marginal tax rates but 26-28 million americans are going to be subject to the alternative minimum tax. that is potentially $3700 additional tax liability. we have the elimination of the 2% social security benefit and up to $55 billion on the social programs. $55 billion out of defense on and on. this will be nothing short of a nuclear catastrophe. >> heather: we keep hearing how this is going to affect the higher income people. according to the congressional budget office, all americans will be affected if the deal is not reached. not just in terms of revenue but job loss.
so you say this fiscal cliff, its fiscal nuclear bomb. what are some of the elements that concern you most? >> let's starts with this was something created by congress and signed into law by president obama. so this is not a tsunami that just came by accident, mother nature. this was created by our elected public officials. should it go off, it will be nothing short of a nuclear weapon, a fiscal nuclear weapon. we have not only the increasing of capital gains taxes and marginal tax rates...
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from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sand
from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's...
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. >> the administration, are they prepared to go over the fiscal cliff. >> absolutely. >> fiscal cliff negotiations in washington, still up in the air. most lawmakers have gone home for a long weekend. >> i'll be here and i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> the duchess of cambridge has left hospital. there for morning sickness. >> how are you feeling this morning, kate? >> as of today, possession of small amounts of marijuana is legal in the state of washington. >>> now the 55th annual grammy awards revealed. the top contender, kanye west and jay-z. >> he's got it. kobe bryant. the greatest player in the history of the los angeles lakers. >> all that, ready for your mistake? >> yeah. i'd like to hear it. >> can eating while driving be distracting. >> no! >> and all that matters. >> former senator alan simpson is bringing his meg abossage ab the national debt to a new generation. >> gangnam style. >> on cbs "this morning." >> the star? a toddler and tiaras earning a spot on barbara walters list of the 20 most f
. >> the administration, are they prepared to go over the fiscal cliff. >> absolutely. >> fiscal cliff negotiations in washington, still up in the air. most lawmakers have gone home for a long weekend. >> i'll be here and i'll be available at any moment to sit down with the president if he gets serious about solving this problem. >> the duchess of cambridge has left hospital. there for morning sickness. >> how are you feeling this morning, kate? >> as...
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>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all, credit in commercial real estate is phenomenal. cap rates are really low. so the fact that rates are as low as they are has allowed commercial real estate not to fall into the abyss. if commercial real estate had to refi at high rates, we would have had another problem. the other problem is the fact margins are getting squeezed at these banks. credit quality is better. >> that's where the money comes from. >> yeah, fees. by the way, you can eat thes
>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to...